.jpg "Energy Focus (NASDAQ: EFOI)")
Oppenheimer analyst Colin Rusch maintained a Hold rating on Energy Focus (NASDAQ: EFOI) today. The company’s shares opened today at $2.22.
Rusch noted:
“EFOI posted solid 2Q18 revenue, demonstrating improved traction on its improving product portfolio and making progress in expanding targeted market segments within commercial lighting. Importantly, the company produced 25.1% GM, up 7.6% Q/Q. Given the need for the company to demonstrate profitable growth, we view both GM and product introduction as meaningful progress. We are encouraged by incremental cost savings in OpEx to help preserve cash and investments in manufacturing cost reducton. With agency revenue growing and the focus on opening key accounts, we see the possibility for growth to accelerate as well as EFOI to show tighter working capital management to extend the runway for its turnaround strategy. We remain on the sidelines looking for accelerating profitable growth.”
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 13.9% and a 50.0% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.
The the analyst consensus on Energy Focus is currently a Hold rating.
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Based on Energy Focus’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.39 million. In comparison, last year the company had a GAAP net loss of $3.11 million.
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Energy Focus, Inc. engages in the design, development, and manufacture of energy-efficient lighting systems. It operates through the marketing and sale of commercial, industrial, and military maritime lighting products and research and development services. The company was founded in 1985 and is headquartered in Solon, OH.
